Cibc World Market Inc. Buys Shares of 1,716,633 AT&T Inc. $T

Key Points

• Cibc World Market Inc. acquired 1.72 million AT&T shares worth approximately $35.5 million in the second quarter. Institutional investors collectively own 57.1% of AT&T’s stock.
• Analysts maintain a generally positive outlook, with AT&T receiving a consensus “Moderate Buy” rating and an average price target of $29.19, despite several firms lowering their targets.
• AT&T reported quarterly EPS of $0.65, beating estimates, while revenue rose 2.3% year over year to $31.56 billion. The company also pays a quarterly dividend of $0.2775 per share, representing a 4.3% annualized yield.

Cibc World Market Inc. acquired a new stake in AT&T Inc. (NYSE:T - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,716,633 shares of the technology company's stock, valued at approximately $35,534,000.

Other large investors have also recently added to or reduced their stakes in the company. Tsfg LLC boosted its holdings in AT&T by 3.6% during the fourth quarter. Tsfg LLC now owns 10,656 shares of the technology company's stock valued at $265,000 after acquiring an additional 366 shares during the period. Lifestyle Asset Management Inc. grew its holdings in shares of AT&T by 3.6% during the 4th quarter. Lifestyle Asset Management Inc. now owns 10,511 shares of the technology company's stock worth $261,000 after purchasing an additional 368 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in AT&T by 1.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 31,970 shares of the technology company's stock valued at $794,000 after buying an additional 370 shares during the period. Bruce G. Allen Investments LLC increased its stake in AT&T by 1.7% in the fourth quarter. Bruce G. Allen Investments LLC now owns 22,398 shares of the technology company's stock valued at $556,000 after acquiring an additional 374 shares during the period. Finally, Rockline Wealth Management LLC grew its stake in shares of AT&T by 3.8% in the 4th quarter. Rockline Wealth Management LLC now owns 10,445 shares of the technology company's stock valued at $259,000 after purchasing an additional 378 shares during the period. Institutional investors own 57.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on T. Argus dropped their target price on shares of AT&T from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings upgraded AT&T from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on AT&T from $18.00 to $20.00 and gave the company an "underweight" rating in a research report on Thursday, July 23rd. Scotiabank lowered their target price on AT&T from $31.00 to $29.25 and set a "sector perform" rating for the company in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada dropped their target price on shares of AT&T from $31.00 to $27.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.19.

AT&T Trading Up 0.3%

Shares of NYSE:T opened at $25.77 on Wednesday. The company's 50-day moving average price is $22.93 and its two-hundred day moving average price is $25.25. AT&T Inc. has a one year low of $19.89 and a one year high of $29.79. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.97 and a quick ratio of 0.93. The stock has a market capitalization of $176.55 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $31.56 billion during the quarter, compared to analysts' expectations of $31.80 billion. AT&T had a return on equity of 12.86% and a net margin of 16.94%.The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. AT&T has set its FY 2026 guidance at 2.250-2.350 EPS. On average, equities analysts forecast that AT&T Inc. will post 2.34 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, July 10th. AT&T's payout ratio is presently 36.75%.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T's product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.

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